IDFC can move to Rs 195-200: Anil Manghnani

IDFC can move to Rs 195-200, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "IDFC is more a breakout move. That stock has been doing well for quite some time and  I think now that it is sustaining above Rs 170, it is adding more strength on the charts. I think yesterday it has gone and  made a new high for this move also. I still think there is some upside maybe Rs 195-200 kind of levels with – if you are  a trader – a strict stop loss of Rs 170 but if you are a positional player then it comes closer to Rs 160."
He further added, "IDBI Bank has not moved with the rest of the market or at least some of the banking names. Now  there are early signs that it is building up both on the volume side and the price side. So again if you are a trader,  stoploss is Rs 110 and price target is Rs 122 but if you are playing more positional then the stoploss is Rs 105 and  could play for a bigger target."